Billionaire Investor Erik Prince Launches Fund For Electric Car Metals

A couple of weeks before the turn of the year I wrote a comment under an article singing the praises of electric and hybrid cars, the usual ‘clean, green, sustainable, transport of the fuutre spiel. Now I did not get into the usual criticisms, poor range, length of time to recharge, massive upgrades to the electricity distribution system to support ‘fast chargers’ which are still painfully slow compared with pumps that pump liquid. Nor did I point out the technical problems that will beset these vehicles when they start to be used outside towns and away from the coastal strip. In short, they don’t do hills. OK I know some plank is going to say “Ah but regenerative braking systems mean they generate electricity when going down hills,” and OK that is true, but what is generated going down is a tiny fraction of what is used to haul car, driver, passengers and battery pack up.

Instead of all that I settled for pointing out that as well as electricity which is mostly generated by coal, other finite resources are essential to the manufacture of these electric vehicles which some stupid politicians say will totally replace fossil fuelled cars and trucks by 2040, (yes I might be talking about you Monsieur Macron you idiot, or you Mr. Treudeau, you plonker.) There are currently an estimated 1.4 billion cars and light goods vehicles on the roads of our planet, and there is not enough lithium in reserve stocks to make battery packs for a tenth of that number. And then there is cobalt, needed in far smaller quantities but a far less plentiful resource and most of the known reserves are controlled by China. And if they dominate the market in a resource the west needs they ain’t going to be giving the stuff away.

Naturally I was mocked and ridiculed for going against the official narrative that electric will smoothly replace gasoline over the next couple of decades. Fortunately I don’t take any more notice of the voices that bounce around the liberal echo chamber of the internet than I do of politicians who are trying to buy your vote so they can use it in the cause of enriching their paymasters, or of mainstream media, where the propaganda of the establishment is endlessly parroted.

It was of course gratifying to learn that people who matter agree with me. Today the Financial Times welcomed the New Year with a report that Erik Prince, the founder of Blackwater, the private security giant intends to launch a $500m investment fund to capitalize on the rush to secure investments in the metals required for batteries that power electric cars.

cobalt mining congo
Cobalt mining in Congo, child labour is common and slave labour possible (western companies contract out work to local agents,), workers rights and safety regulations are non existent. (Source: http://www.trwn.org/wp-content/ )

 

Prince, an adviser to president Trump and brother of White House official Betsy DeVos told the FT,  “For all the talk of our virtual world, the innovation, you can’t build those vehicles without minerals that come from generally weird, hard-to-access places.”

He’s correct of course, and the more the world comes to rely on electronic technology, particularly mobile technologies, the more competition there will be for these finite resources. As I wrote back in 2010, for years due to pressure from the greeny – weeny, weirdie – beardie faction, because the mining and refining of these rare earth metals is a filthy and energy intensive process, the developed nations have been handing control of such vital resources to nations with are not exactly friendly to our governments or way of life.

Mining companies in China, Russia, India, Brazil and Australia have been investing billions into these essential metals as the electric vehicle industry expands, which include cobalt, neodymium, gold, tellurium and terbium  as well as copper and lithium.

One of the largest investors has been China, with Chinese companies buying stakes in deposits in the Democratic Republic of Congo and in Chile this year. Mr Prince also runs a Hong Kong-listed security and logistics company that is backed by China’s state-owned Citic Group. –Financial Times

Prince’s new fund will operate in exploration and securing rights to as yet unknown deposits before selling them on to larger mining companies, and, Prince told the FT, will be looking to cash in its investments and devote the revenue to new projects within four or five years.  his experience in providing private armies to secure assets in well known trouble spots should prove invaluable.

It is well known that Chinese companies have little interest in speculative  exploration, which leads Prince believe creates a gap in the supply chain he hopes to fill.”

More than 60 percent for the world’s cobalt supply originates from the Democratic Republic of Congo, a nation plagues by tribal and political conflicts which has scared off western investment and has opened the door for Chinese companies including Jinchuan Group and China Molybdenum to pour billions into developing the sites.  Apart from high altitude salt lakes in Chile, the onlt other known area from which lithium is easily extractable is Afghanistan, not the easiest place for foreign interests to operate.

Prince first came to public attention as the founder of Blackwater – the world’s most famous private military contractor which has been targeted with lawsuits alleging civilian deaths in Iraq, including a 2007 incident in Nisour Square, Baghdad, where 17 civilians were killed and 20 injured after Blackwater guards claim their convoy was ambushed. And FBI investigation concluded that at least 14 of the 17 Iraqis were shot without cause.

Since selling Backwater in 2010, Prince has been at the helm of Frontier Services Group, which provides logistics support and security services to companies operating in politically unstable countries. They have provided anti-piracy operations to Somalia and security for oil companies operating in strife – torn South Sudan. Prince himself is a former US Navy SEAL, now resident in Abu Dhabi, his long established business links with China will certainly give him a head start in this new venture. A bauxite (aluminium ore,) mine in Guinea this year secured a contract to supply Chinese state – owned aluminium smelter with ore.

MORE ON RARE EARTH METALS AND ELECTRIC CARS
Rare-earth metals in magnets for electric-car motors
A Scarcity of Rare Metals Is Hindering Green Technologies
Rare Earth Elements: A Beginners Guide

Information on the chemical nature, physical properties and uses of rare earth metals.


Rare Earth Elements And Their Uses

Information on mining, extraction and refining processes.

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not
Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Flight From FreedomFleeing from freedom seems like a contradiction, after all we usually asdsiciate flight with escaping from captivity. In this first part of Existentialism for Beginners however the author identifies a human instinct that predisposes us to seek illusory safety by conforming and being part of the crowd rather than embarking on the lonely life of the free thinker, the person who truly makes their own decisions and follows their own path.

Electronic Tattoos To Replace Passwords and Pin Numbers?
Science was ever fascism’s whore. A warning about the latest wheeze the science tits have developed for their Fascist bosses, RFID tattoos. The plan is these things will keep tabs on everything you do all the time and you will not be able to access the internet, your mobile phone or your bank and credit card accounts without one.

Drivers Cool About Electric Cars
Have you purchased your new, clean, green, politically correct, all electric car yet? No? I thought not. Neither have I. It is not so much that I hate the enviroment or that I do not want to support the fabulous clean, green, sustainable job creating indistries fabulous, clean, green Dave has promised us will lead …

GM Food Needed To Avert World Food Crisis

The GM Foods Nazis are revving up for a good whine again. Professor Sir John Beddington said there was no scientific qick fix to the ”enormously serious” problem of producing enough fod to feed the world’s rapidly growing population in the future as we face problems such as climate change, population growth and energy shortages. He told BBC Breakfast News: ”If there are genetically modified (GM) organisms that actually …


Iceberg Alley BluesWe must stop using oil say the politicians and scientists as it becomes more imperative that exploration begins in Iceberg Alley off the Canadian Coast, elsewhere in the Arctic and in other sensitive locations. They are just trying to soften us up for carbon taxes of course. Nobody knows better than politicians that the world runs on oil and that alternative non polluting sources are a long way short of being able to supply energy needs ….

Coal Fired Power Stations Win ReprieveIn what looks like a u-turn on green energy policy the coalition government have abandoned plans to support and subsidiese operators of sustainable energy generating plants. While environment activists and green campaigners are calling this a betrayal the case may well be that in the harsh reality of governing claims made by green energy firms look totally unrealistic …

Tesla Driverless Cars World Domination Plan Hit By Another Crash
Electric carmaker Tesla, whose founder Elon Musk recently showed the kind of ignorance of human nature that typifies Silicon Valley billionaires when he smugly predicted the whole world would be letting driverless cars ferry them around by 2030, is preparing an updated “secret masterplan” as the company looks to rebound from concerns over the safety …

BHP Drops Bid For Potash of CanadaMining giant BHP Billiton has abandoned its takeover bid for fertiliser group Potash Corporation after it was blocked by the Canadian government. We should start to appreciate Canadians more perhaps. A few months ago The Daily Stirrer was praising two Canadian sceptics for exposing …

The Growing Problem Of Rising Food PricesWhile the warmists rant about carbon and the Church of Scienceology Cult rave about climate science. there are threee real and immediate problems facing us that nobody is talking about. These are overpopulation, water shortage and food price inflation. This article deals with food prices, links at the bottom lead to our posts on population and water scarcity.

How Our Creature Comforts Are Baking The WorldAs the arguments rage on between the Climate Science Wankers lobby and the sceptis, realists and out and out deniers we observe that still nobody who gets media coverage, nobody who is talking sense about climate chaos, carbon based fuels, deforestation or over population is really being heard. Quite simply there are too many of us and we want too much. Who needs science or politics to understand that?

Next Boss Warns On Cotton Price IncreasesAs the boss of a major UK clothing and fashion retailer warns of the likely impact of rising cotton prices on the cost of clothing John De Roe revisits on of The Daily Stirrer’s recurring themes throughout the economict crisis, overpopulation.

Food Will Cost The EarthA bid by Australian mining giant BHP Billiton to buy Potash Corp of Canada draws attention to food price inflation, rising commodity prices in world markets and an impending global food supply crisis. It is not just potash, essential in food production, but other finite resources like oil that corporate giants are bidding to gain control of that should concern us.

Vertical Farming: The Looniest Idea Yet For Saving The PlanetClimate Science is a strange discipline. Part trainspotting, part trekkie convention going, it combines an almost autistic obession with collcting details, a very autistic obsession with focusing on a single theme and a fantasist’s capacity for self deception and a taste for mutual masturbation. The latest loonytoons idea for saving the planet involves turning skyscraper buildings into farms growing food for urban populations. Apart from increasing the cost of food by 1000% and increasing rather than reducing the carbon footprint of food production the idea is so insane noboy could ever take it seriously. Nobody that is except scientists, politicians, academics and the media.

The Futility Of Wind Farms.In some ways the Conservative / Liberal Democrat coalition has made quite a good start in government. One area they are set to fail badly however is energy. Driven by politically correct thinking the coalition are set to follow Labour down the road that goes through wind power and eventually leads nowhere. Wind turbines look fine on paper. If they generate at their optimum output for 365 days a year the contribution to energy needs looks like a viable business proposition. The problem is due to the limitations of the technology and the vagaries of the weather wind farms are doing well if they operate at a quarter of their potential output.

Climate Change Crooks And LiarsThough climate change alarmists claim that that “the science is settled” no longer holds water the arguments rage on. If anything they are getting more heated as the climate science lobby, knocked from the moral high grounds show their true colours. But more and more evidence is showing the climate change science was never settyled and the global warming Armageddonists had built their whole case on very flimsy evidence.

Brand New Tesla Model S Spontaneously Combusts And Spontaneously Comusts Again

It is well known that Tesla Model S Cars, like Spinal Tap drummers, have a tendency to spontaneously combust. There have been several instances in the past two years, usually occurring after an accident or collision, not always immediately after but several days after. This led one safety expert in California to suggest there is a serious problem with the battery pack.

Tesla Cars deny there is a problem of course, well they would, wouldn’t they? In a recent court hearing over one case the company bizarrely claimed that one of it’s cars had burst into flames after somebody fired a bullet into the battery pack.

But now there has been a case of spontaneous Tesla Model S combustion (perhaps that’s why they call it the model S,) that does not involve a bullet, or a collision

A Tesla Model S that was not being worked on or driven  spontaneously combusted on Tuesday, catching fire in a tyre shop parking lot near the Bay Area, San Francisco according to NBC news. After the fire department arrived and the Tesla was subsequently towed away, it then reignited a second time at a tow yard.

The owner of the tyre shop said after the vehicle arrived on a tow truck, they noticed a “hissing sound” coming from it shortly before the vehicle went up in flames. The batteries in the vehicle continued to burn long after the flames were put out, the fire department concluded, and there was no indication that anyone was shooting at the batteries this time.

“It’s a brand new car, I just got it three months ago, there’s only 1200 miles on the car,” the owner told NBC Bay Area. The report stated that the owner will likely not replace the car with another Tesla due to “a lack of customer service” and “safety concerns”.

“No more Teslas,” the driver told NBC. “If this car was in the house and we were on vacation, and this thing caught fire in the garage, the whole house could go under!”

Watch a video of the Tesla Model S AutoBBQ feature being demonstrated.

 

 

FBI Is Investigating If Tesla Misstated Info About Model 3 Production

 

Tesla car crash – Elon Musk doesn’t do things by halves (picture: indianexpress.com)

Electric Vehicle maker Tesla, which released astounding Q3 figures yesterday, suggesting the company had turrned a $1billion plus loss in Q2 into a multi million surplus in the third quarter of this year (more on that a little further down the page,) looks to be courting more trouble from Stock Market regulators, and simultaneously tempring the FBI to get involved.

While we already know that following a statement by loony CEO Elon Musk to the effect that he was taking the public company private, a move that netted Musk millions as the value of his holding soared, but resulted in a regulatory investigation as Musk did not have the finance to carrry out the change,  a second SEC investigation is taking place in relation to Tesla’s Model 3 production, because Tesla overstated production figures after news was leaked that production was well short of the break – even target. This afternoon the Wall Street Journal dropped a bombshell  by revealing that a Department of Justice investigation into Model 3 production numbers was also not only was taking place, but was also intensifying.

According to the Wall Street Journal, the FBI is examining whether Tesla misstated information about production of its Model 3 dating back to early 2017. Action in the criminal investigation is reported to have intensified since Musk settled with the SEC last week.

The Journal also reports that the FBI has contacted former Tesla employees for testimony in the criminal case. Many former employees have received subpoenas and have been interviewed by the FBI.

Tesla shares quickly dropped almost $25 off highs on the news before bouncing after releasing its own response, stating it has only received a “voluntary request for documents” and not a subpoena. If people believe any statement from Tesla any more they deserve to lose their money.

Here’s what an experienced US market analyst had to say about those third quarter profits yesterday:

Analyst Erupts At Tesla: “They Used Every Trick From Every Fraud To Put Lipstick On Q3 Results”

by Adventures in Capitalism

On October 11, I noted that “…I have booked all of my Tesla (TSLAQ – USA) Jan 2019 250/175 put spreads after owning them for almost a year, at a reference price of $255 compared to a reference price of $320 when I first wrote about them. While I am certain that Tesla collapses in the near future, all evidence seems to show that they’ve used every trick from every financial fraud over the past 100 years to put lipstick on the Q3 financial results.” Modern day Ivar Kreuger has not disappointed.

Over the years, I have purposefully kept accounting and numbers to a minimum on this site—they’re “boring.” Besides, if you must use a fancy spreadsheet to prove a point, then your thesis isn’t very good to begin with. The numbers should fit onto a bar napkin after a full night of drinking. Unless, of course, you suspect fraud—in that case, numbers and financial ratios are everything. With that out of the way, let’s delve into the Q3 Tesla numbers.

Big picture, from Q2 to Q3, there was a sequential improvement in operating income of $1.038 billion, and they delivered 43,007 incremental cars. That’s $24,140 per incremental vehicle on a car that is retailing for as little as $49,000. No other auto OEM even comes close to that. Something simply doesn’t add up—so I went looking for it.

I get that when revenue grows, you get operating leverage. This can be seen where SG&A as a percentage of revenue declined for 4 sequential quarters (green). This is normal. You would expect with a huge increase in Q3 revenue, that there would be more operating leverage. Would you expect that SG&A drops 2.8% sequentially on a 70.5% increase in revenue (red)? That’s not how manufacturing companies work. The expense is obviously still there, we just don’t know where they hid it…

Meanwhile The Daily Telegraph was running a story about how lousy electric cars are when faced with real, open road driving conditions (they don’t like hills according to this road test, carried out in southern England. Imagine driving one round the Lake District, the north Pennines, Snowdonia or the Scottish Highlands.

Tesla’s Single Point Of Failure

Interesting and well researched article comparing the success of Ford with the chaotic meltdown of Tesla.

Tesla crash and burn

Authored by Chris Whalen via TheInstitutionalRiskAnalyst.com,

Watching the meltdown of Tesla Motors (TSLA) founder and CEO Elon Musk last week unfold in the pages of The New York Times, we are reminded that enterprises need both vision and operating smarts to be successful. It was obvious years ago that Elon Musk needed help to build a new car company. Yet somehow the members of the board of directors of TSLA did nothing as Elon Musk led this extraordinary endeavor.

We noted in Ford Men: From Inspiration to Enterprise that Henry Ford had the vision thing, but his partner James Couzens turned the idea into a successful business. So bad was his reputation for tinkering and racing that Ford was not even an officer of Ford Motor Co (F) when it was founded, but he had an idea.

Thanks to Jim Couzens, in less than a decade that idea Henry Ford nurtured exploded into one of the great American fortunes, a transformational fortune built on manufacturing. The business was wildly successful and repaid its investors and more in the first year. And thanks to another Ford Man, engineer Charles Sorensen, Ford Motor Co invented the assembly line that enabled the company to meet the astronomical demand for cars a century ago.

Musk is no Henry Ford, but TSLA is the latest case in point to the lesson that solitary leaders often fail. No matter how brilliant or inspired, most of us need the moderation and help of business partners, directors and investors to make an enterprise succeed and endure.

READ ALL >>>

Readers may think my tracking of the Tesla meltdown is a case of a Musk hater wallowing in schadenfreude. Not so, I think Musk is a dick who has made the mistake of believing his own hype, but what has really appalled me is the Tesla fiasco shows the business community learned nothing from the the dotcom bubble’s bursting in 1999 / 2000. Once again in recent years thay have jumped on the bandwagons of Silicon Valley start ups, abandoning caution and common sense when it should have been clear the wheels would drop off the first time they encountered a bump in the road.

Another Tesla Spontaneously Combusts, Killing Driver

When it rains, it pours, or in the case of Tesla, it spontaneously combusts.

Less than a week after a Tesla Model S erupted in flames following a “horrific” crash in Ft. Lauderdale, Flordia,, fatally trapping the two teenagers who died inside, in a similar accident to one that happened in Mountain View, California, last December, while a second Model S rammed a stopped Salt Lake City firetruck at 60mph, mercifully without any fatalities, the Swiss tio.ch reports that yet another Tesla has burst into flames after crashing on the A2 highway near Bellinzona, killing the 48-year-old German driver who, like the Florida ten nagers, was trapped inside because flames spread too quickly after the collision to permit escape or any rescue attempt.

telsa20swiss20fire
Tesla crash in Switzerland, note the total destruction of the car

According to the Swiss publication, the 48-year-old German driver, from Baden-Wurtermberg, lost control of the vehicle a few meters after the Monte Ceneri tunnel, crashing into the central guardrail, an accident that was remarkably similar to an October 2017 crash in Austria, in which a Model S also burned down, however without any fatalities.

The car then overturned and caught fire, fatally trapping the driver.

According to the Facebook page of the Bellinzona fire department, the flames were once again started by the lithium-ion batteries after the crash. The Fire department explains that “the violent impact of Lithium Ion Batteries could probably have caused a phenomenon called “thermal runaway”, i.e, a rapid and unstoppable increase in temperature (think in terms of a reactor core meltdown in a nuclear power station.).” It is becoming clear that the lithium ion batters used in electric cars are a highly unstable power source.

tesla20italy20fire

It’s unclear if the car had its autopilot engaged at the moment of the crash, although now that both the NTSB and NHTSA are looking into last week’s tragic Tesla crash which killed two teenage boys under similar circumstances, we are confident the answer will be available soon. Several Tesla accidents have involved the car going out of control while autopilot was driving. This spate of accidents, along with others in self driving cars from other manufacturers is probably a bigger setback for the autonomous car nerds than electric vehicles in general

As was reported yesterday, Max Schwall, the Tesla exec who until last week had been Tesla’s “primary technical contact” with both the NTSB & NHTSA, resigned quietly and moved to Tesla’s competitor Waymo. Commenting on this departure, we wondered if it suggests that the “company’s troubles with government regulators may be set to escalate.”

Judging by the trio of crashes in just one week, two of which fatal, it’s a safe bet the answer is “yes.” This leaves Elon Musk’s dreams of world domination, like his cars in the crash scene pictures, in total meltdown.

Electric Cars Too Expensive
Yesterday we highlighted the reasistic journey ranges achieved by the much acclaimed but basically useless Chevvy Volt. Today we read this story from one of the car industry’s giants. In August 2015, Ford’s chief financial officer has warned predictions of a surge in electric car sales are “very ambitious”, as next generation vehicles dominate the Geneva Motor Show.

Electric car with free fireworks display
We have been sceptical of claims that electric cars and hybrids will save the planet since the hype began. Lithium the only realistic material for batteries is not in plentiful supply. Processing and purifying lithium is a filthy and energy intensive process as is the recycling of clapped out batteries. A switch to electric cars simply moves pollution from the vehicle to the factory. Electric cars would be more polluting that hydrocarbon powered vehicles …

Tesla Stock Hit After German Regulator Warns Self-Driving Cars Are Unsafe
While the Tesla company and its Ubernerd founder Elon Musk have for several years been the darlings of the stock markets and the media, things may be changing. Like most technology startups, Tesla talk a good launch but fail to deliver real results. Since the cars launched to widespread admirationed at the elegant design, and open mouthed shock at the huge price tags and …

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not
Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Google Self Driving Car Can’t Drive Itself
A lot of nerdy types have been getting very excited about the self – driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it’s the Google wankermobile that turns them on.

All The Reasons You’ll Ever Need For Not Buying An Electric Car As Tesla Electric Car Turns Into Firebomb after Collision.
The electric car thing will not go away will it, ever since the science tits who work for Big Tech started proposing that electric cars are the future it has been proved many times in many ways that they are not. Cost, extremely limitedrange and safety are mong the reasons. And here as a Tesla goes up in smoke, is another …

Google Car Driverless Because No Sane Person Would Be Seen Dead In One
A few years ago Google boss Eric Schmidt said the company’s aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not
Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a major advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Google Self Driving Car Can’t Drive Itself
A lot of nerdy types have been getting very excited about the self – driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it’s the Google wankermobile that turns them on.

It’s The Car Of The Future – And It Runs On Petrol
How long have those research grant phishing, statistics rigging, peer review fiddling sciencheads been telling us the car of the future would be powered by electricity? This was despite their best efforts after Squillions of Dollars, Pounds, Euros and Yen only having produced a hybrid that required both an electric motor and an internal combusion unit to .

Google Car Driverless Because No Sane Person Would Be Seen Dead In One
A few years ago Google boss Eric Schmidt said the company’s aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.

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Reasons To Hate The Toyota Prius

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The Internet Of Things

More Trouble For Tesla – It’s Official This Time

Those who hailed Tesla founder Elon Musk as the New Messiah, the technological miracle worker who was going to be saviour of the planet will be crying into their vegan corn flakes this morning as Tesla’s woes multiply.

Only  day after two teens tesla20s20crash20floridawere killed in a “horrific” Model S crash in Fort. Lauderdale, Florida, when the two 18-year-olds were immolated after being trapped in their burning vehicles, the USA’s National Transport Safety Board, alarmed perhaps that this is the latest in a series on incidents in which Tesla cars displayed their tendency to spontaneously combust, has launched an investigation into the incident.

The probe comes two months after Tesla and the U.S. National Transportation Safety Board were at loggerheads over the board’s investigation into a deadly, March 23 crash in Mountain View, California  involving a Tesla vehicle on Autopilot, will be mainly focused on “electric vehicle battery fire” as Elektrek reports that batteries from the other crash under investigation reignited days after the accident.

The NTSB issued a statement announcing their investigation into the crash. NTSB Chairman Robert S. Sumwalt, on whom Elon Musk recently hung up, commented:

“NTSB has a long history of investigating emerging transportation technologies, such as lithium ion battery fires in commercial aviation, as well as a fire involving the lithium ion battery in a Chevrolet Volt in collaboration with the National Highway Traffic Safety Administration.  In addition, the NTSB is currently investigating a fire involving the transportation of hydrogen gas for fuel cell vehicles. The goal of these investigations is to understand the impact of these emerging transportation technologies when they are part of a transportation accident.”

The NTSB sent 4 investigators to Florida and will “primarily focus on electric vehicle battery fire, including fire department activities and towing operations.”

The second Tesla safety probe this year comes on the back of news that the Mountain View Fire Department shared its report about the aftermath of the fatal Tesla Model X accident in Mountain View with other fire departments, which indicates they suspect serious problems with Tesla cars.  That is now also under NTSB investigation.

In the report (published via KTVU), the fire department said that they monitored the battery pack and it reignited days after the March 23 accident, with Mountain View Fire Chief Juan Diaz commenting:

“In this particular case, six days later, the temperature inside those cells increased to the point of ignition. That’s why the car reignited. You have stored energy that is frankly unstable.

Think of a nuclear meltdown in which the plutonium rods spontaneously combust over and over as there is no way to cool them sufficiently. It’s kinda like that.”

Amusingly, Tesla recommends using “large amounts of water” to extinguish a battery fire in its vehicles (water is not recommenedd for extinguishing electrical fires) and using a thermal imaging camera to monitor the battery for at least one hour after it is found to be completely cooled:

“If the high voltage battery catches fire, is exposed to high heat, or is bent, twisted, cracked, or breached in any way, use large amounts of water to cool the battery. DO NOT extinguish with a small amount of water. Always establish or request an additional water supply.”

More appropriately, the company also offers online training for fire departments about what steps to take when dealing with its vehicles after a crash. Effing long ones, we would guess.

Electric Cars Too Expensive

Yesterday we highlighted the reasistic journey ranges achieved by the much acclaimed but basically useless Chevvy Volt. Today we read this story from one of the car industry’s giants. In August 2015, Ford’s chief financial officer has warned predictions of a surge in electric car sales are “very ambitious”, as next generation vehicles dominate the Geneva Motor Show.

Electric car with free fireworks display

We have been sceptical of claims that electric cars and hybrids will save the planet since the hype began. Lithium the only realistic material for batteries is not in plentiful supply. Processing and purifying lithium is a filthy and energy intensive process as is the recycling of clapped out batteries. A switch to electric cars simply moves pollution from the vehicle to the factory. Electric cars would be more polluting that hydrocarbon powered vehicles …

Tesla Stock Hit After German Regulator Warns Self-Driving Cars Are Unsafe

While the Tesla company and its Ubernerd founder Elon Musk have for several years been the darlings of the stock markets and the media, things may be changing. Like most technology startups, Tesla talk a good launch but fail to deliver real results. Since the cars launched to widespread admirationed at the elegant design, and open mouthed shock at the huge price tags and …

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not

Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Google Self Driving Car Can’t Drive Itself

A lot of nerdy types have been getting very excited about the self – driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it’s the Google wankermobile that turns them on.

All The Reasons You’ll Ever Need For Not Buying An Electric Car As Tesla Electric Car Turns Into Firebomb after Collision.

The electric car thing will not go away will it, ever since the science tits who work for Big Tech started proposing that electric cars are the future it has been proved many times in many ways that they are not. Cost, extremely limited range and safety are mong the reasons. And here as a Tesla goes up in smoke, is another …

Google Car Driverless Because No Sane Person Would Be Seen Dead In One

A few years ago Google boss Eric Schmidt said the company’s aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not

Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Google Self Driving Car Can’t Drive Itself

A lot of nerdy types have been getting very excited about the self – driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it’s the Google wankermobile that turns them on.

It’s The Car Of The Future – And It Runs On Petrol

How long have those research grant phishing, statistics rigging, peer review fiddling sciencheads been telling us the car of the future would be powered by electricity? This was despite their best efforts after Squillions of Dollars, Pounds, Euros and Yen only having produced a hybrid that required both an electric motor and an internal combusion unit to .

Google Car Driverless Because No Sane Person Would Be Seen Dead In One

A few years ago Google boss Eric Schmidt said the company’s aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.

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Tesla just months from total collapse, says hedge fund manager

Another Tesla demonstrates the makes built in barbecue feature neds some work (picture source: Zero Hedge
Another Tesla demonstrates the makes built in barbecue feature neds some work (picture source: Zero Hedge

The American electric-car company Tesla will be bankrupt within four months unless its CEO Elon Musk “pulls a rabbit out of his hat,” according to hedge fund manager John Thompson. “Companies eventually have to make a profit, and I don’t ever see that happening here, this is one of the worst income statements I’ve ever seen and between the story and the financials; the financials will win out in this case.” the head of Vilas Capital Management told Market Watch.”

Thompson manages $25 million and his Tesla short is the fund’s biggest position. He has been betting big against the electric automaker for years.

Last April, Tesla stock hit a record high of around $300 and continued to grow to $389.61. Nevertheless, Thompson’s fund still managed to churn out a 65-percent gain for the year. Since then, Tesla has fallen sharply and Thompson is confident his bet is about to pay off. Tesla shares were down more than 8 percent at Wednesday closing to $279.18. The hedge fund manager said that if his prediction comes true, his fund could surge by another 50 percent. He noted that he is investing $500,000 of his own money.

“Tesla, without any doubt, is on the verge of bankruptcy,” Thompson told clients in an email. He explained that funding will be hard to come by in the face of problems in delivering the Model 3, declining demand for the Model S and X, extreme over – valuation on the stock market, and a likely downgrade of its credit rating by Moody’s from B- to CCC.

Another fatal crash earlier this month that left a Tesla Model X smouldering on the shoulder of the southbound lane of Highway 101 in Mountain View has hammered Tesla shares to their lowest level in a year while pushing the yield on its debt above 7% (though an ill-timed downgrade from credit rating agencies also had something to do with that).

Once again, Tesla finds itself under scrutiny from the U.S. National Transportation Safety Board. The last brush with the regulator ended without incident – the agency ruled that a fatal Florida crash was the result of driver error, and that Tesla’s controversial autopilot software (which has been implicated in several fatal accidents) was not at fault, though this verdict should be treated with some scepticism as it is based on the fact that the car was on autopilot, which is not a technology sold as offering full vehicle autonomy. It seems odd therefore that a judge can say the driver was at fault when in fact the car should have a failsafe mechanism to prevent stupid drivers from abusing what is intended to be an electronic assistant.

As two teams from the NTSB sift through the evidence gathered from the site of the latest demonstration of Tesla’s self – immolating feature, the company said in a blog post published Tuesday night that it hasn’t been able to analyze any of the data collected from the scene – and therefore doesn’t yet know what caused the crash – because the car was so badly damaged, as Bloomberg reported.

The company hasn’t been able to retrieve the vehicle’s logs and is working with authorities to access them. Tesla hasn’t disclosed whether the driver had engaged Tesla’s partially autonomous driving system, known as Autopilot, when the crash occurred.

Interest in the effectiveness of self-driving technologies is at crisis thanks to a deadly Uber Technologies Inc. accident that happened days earlier involving an autonomous car and a woman who was crossing the street with her bicycle.

Tesla Stock Hit After German Regulator Warns Self-Driving Cars Are Unsafe

While the Tesla company and its Ubernerd founder Elon Musk have for several years been the darlings of the stock markets and the media, things may be changing. Like most technology startups, Tesla talk a good launch but fail to deliver real results. Since the cars launched to widespread admirationed at the elegant design, and open mouthed shock at the huge price tags and …

Drivers Cool About Electric Cars
Have you purchased your new, clean, green, politically correct, all electric car yet? No? I thought not. Neither have I. It is not so much that I hate the enviroment or that I do not want to support the fabulous clean, green, sustainable job creating indistries fabulous, clean, green Dave has promised us will lead …

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not
Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Tesla Driverless Cars World Domination Plan Hit By Another Crash
Electric carmaker Tesla, whose founder Elon Musk recently showed the kind of ignorance of human nature that typifies Silicon Valley billionaires when he smugly predicted the whole world would be letting driverless cars ferry them around by 2030, is preparing an updated “secret masterplan” as the company looks to rebound from concerns over the safety …

Google Self Driving Car Can’t Drive Itself
A lot of nerdy types have been getting very excited about the self – driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it’s the Google wankermobile that turns them on.

Self Drive Cars And Closing Time Chaos On The Roads
I’m always gobsmacked by the unthinking stupidity of those we allow to rule us. While the developed nations struugle with unemployment, due to automation of processes that provide jobs amongst other things, our poticians and the “experts” who advise them are creaming thrir pants over another technological development that will destroy thousands of jobs. Their …

All The Reasons You’ll Ever Need For Not Buying An Electric Car As Tesla Electric Car Turns Into Firebomb after Collision.
The electric car thing will not go away will it, ever since the science tits who work for Big Tech started proposing that electric cars are the future it has been proved many times in many ways that they are not. Cost, extremely limited range and safety are mong the reasons. And here as a Tesla goes up in smoke, is another …

Car-Barbie: Tesla Supercar Bursts Into Flames While Charging
from Zero Hedge (creative commons) The Norwegian owner of a Tesla Model S found an unexpected f(i)ringe benefit during a cold Friday afternoon when shortly after he had parked his luxury electric car at a supercharging station in Gjerstad, and left, he realized the car could serve as a very quick and efficient, if quite …

Google Car Driverless Because No Sane Person Would Be Seen Dead In One
A few years ago Google boss Eric Schmidt said the company’s aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.

Google’s Wankermobile Self Driving Car Can’t Drive Itself
People are starting to trust Boggart Blog and our friend Little Nicky Machiavelli. That’s because we are always right. And we always try to sound a weeny bit humble when we say I told you so. Recently the usual types got a bit huffy when we mercilessly mocked the much hyped Google self driving car, …

Electric Cars? Cheap At Half The Price
A new electric car, the Tesla, that appears to offer the breakthrough technology to provide clean, practical personal transport we have been waiting for since collectively falling off our chairs laughing at the Sinclair C5, was at last unveiled this week. The Tesla, a two seater coupe, offers performance comparable with similar conventionally powered cars, …

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